FedEx (FDX) Upgraded to Outperform by Sanford C. Bernstein

Sanford C. Bernstein upgraded shares of FedEx (NYSE:FDX) from a market perform rating to an outperform rating in a report issued on Friday. Sanford C. Bernstein currently has $290.00 price target on the shipping service provider’s stock.

FDX has been the topic of a number of other research reports. Oppenheimer reaffirmed a buy rating and set a $265.00 price objective (up previously from $236.00) on shares of FedEx in a research note on Wednesday, December 20th. Zacks Investment Research raised shares of FedEx from a sell rating to a hold rating in a research note on Tuesday, December 12th. BMO Capital Markets reaffirmed a buy rating and set a $300.00 price objective on shares of FedEx in a research note on Monday, January 8th. Bank of America reaffirmed a buy rating and set a $315.00 price objective on shares of FedEx in a research note on Friday, January 12th. Finally, Loop Capital raised their price objective on shares of FedEx to $318.00 in a research note on Thursday, January 4th. One research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $275.04.

FedEx (NYSE:FDX) traded up $6.79 on Friday, reaching $252.22. 1,806,336 shares of the company’s stock were exchanged, compared to its average volume of 1,840,000. FedEx has a 12 month low of $182.89 and a 12 month high of $274.66. The company has a quick ratio of 1.50, a current ratio of 1.57 and a debt-to-equity ratio of 0.89. The stock has a market cap of $67,570.00, a price-to-earnings ratio of 23.18, a PEG ratio of 1.43 and a beta of 1.30.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Tuesday, December 19th. The shipping service provider reported $3.18 EPS for the quarter, topping analysts’ consensus estimates of $2.89 by $0.29. The business had revenue of $16.30 billion for the quarter, compared to analysts’ expectations of $15.67 billion. FedEx had a net margin of 4.74% and a return on equity of 20.56%. The business’s revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the company earned $2.80 EPS. equities research analysts anticipate that FedEx will post 13.45 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Monday, March 12th will be issued a $0.50 dividend. The ex-dividend date is Friday, March 9th. This represents a $2.00 dividend on an annualized basis and a yield of 0.79%. FedEx’s payout ratio is currently 18.38%.

In other FedEx news, COO David J. Bronczek sold 46,555 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $255.49, for a total value of $11,894,336.95. Following the transaction, the chief operating officer now owns 48,562 shares in the company, valued at approximately $12,407,105.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Robert B. Carter sold 3,970 shares of the firm’s stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $250.73, for a total value of $995,398.10. Following the completion of the transaction, the executive vice president now owns 187,025 shares in the company, valued at approximately $46,892,778.25. The disclosure for this sale can be found here. Insiders sold a total of 53,541 shares of company stock worth $13,692,142 in the last 90 days. 8.45% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in FDX. Salem Investment Counselors Inc. lifted its holdings in FedEx by 2.8% in the 2nd quarter. Salem Investment Counselors Inc. now owns 479 shares of the shipping service provider’s stock valued at $104,000 after purchasing an additional 13 shares in the last quarter. Krilogy Financial LLC raised its holdings in shares of FedEx by 0.4% during the 2nd quarter. Krilogy Financial LLC now owns 511 shares of the shipping service provider’s stock worth $111,000 after acquiring an additional 2 shares during the period. Cerebellum GP LLC purchased a new position in shares of FedEx during the 4th quarter worth $125,000. Financial Engines Advisors L.L.C. purchased a new position in shares of FedEx during the 3rd quarter worth $132,000. Finally, Massey Quick Simon & CO. LLC purchased a new position in shares of FedEx during the 3rd quarter worth $136,000. Institutional investors own 74.01% of the company’s stock.

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FedEx Company Profile

FedEx Corporation (FedEx) provides a portfolio of transportation, e-commerce and business services through companies competing collectively, operating independently and managed collaboratively, under the FedEx brand. The Company’s segments include FedEx Express, TNT Express, FedEx Ground, FedEx Freight and FedEx Services.

Analyst Recommendations for FedEx (NYSE:FDX)

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